FNB has once again disrupted the industry with one of the most innovative additions to hit banks across SA.
You can now renew your vehicle licence on the FNB app, and the whole process is as easy as ABC.
Part of a full platform called Nav Car, this smart online tool provides several handy tools that allow consumers to perform multiple checks and transactions online.
While welcomed and hailed as revolutionary in the industry, there does seem to be a downfall with the app. On top of the renewal fees, the bank has added an extra R199 for handling and delivery fees. Although consumers have been blown away by how the new feature can save hours in queuing time, the fee is simply not sitting well with them. We take a look at the new feature.
How does it work?
The process has been simplified to make it as easy as possible for customers to renew their licence in a few easy steps.
- Scan the licence with your smartphone
- Pay for the renewal using the in-app payment system
- The licence disk will be delivered to your door
Convenient, right? This seems like it is too good to be true! Well, there are several more features to this app that make it really appealing for customers.
- You can not only renew your licence but also up to five different ones
- Receive instant notifications of traffic infringements and instant payment options
- Fine negotiation assistance, reducing the amount you need to pay off
- Vehicle finance management options
- Licence disc renewal notifications
- Bail assistance at roadblocks
- Road Accident Fund claim assistance
What has the response been?
While there are many positive responses to the news, many have questioned the fee.
Many are blown away by the bank’s innovation and have praised it for being on the forefront of disrupting the industry.
Others, however, are not as convinced.
In a comment on an article posted on Business Tech, one user questioned why the fee was so high to do the renewal.
“I would’ve jumped for this feature had it not been for that ridiculous R199 fee. I’d rather keep doing it the way I have been doing it for years. For the six years I owned my vehicle, I have only once received the renewal notice. So I just download and print the MVL form, fill it in and go to the post office to renew. Can’t say that I have ever waited longer than 15 minutes. I would’ve settled for a fee of R50, at most, for the convenience of doing it via the app and saving me the time and effort, nothing more though…”
Are the fees outrageous?
For many, especially in this day and age of cutting costs, R199 is quite an expense for something you can do yourself.
You can also choose the On-Road Bundle, which comprises of a R95 monthly fee. Not only will this include all the above-mentioned services, you will also be able to renew five different licences. This works out to R1 140 per year.
The average car’s licence costs between R276 to R303, depending on its weight, and you will wait for an average of 1.5 hours to renew the licence, though it is often faster at the Post Office. This naturally also depends on where you are, with some vehicle departments being quicker than others.
There are various services that offer to do the renewal for you for a fee. Don’tQ, for example, who are based in Johannesburg, charge a fee of R285 to do the renewal for you. Should you need it to be delivered, however, that will be an extra R95.
Bearing that in mind, is the FNB app outrageous?
We contacted some courier services to find out just how much an envelope-sized package would cost to be couriered within the same town.
DHL Express quoted R285.63 should the package be delivered from the Cape Town city centre to Claremont. Postnet offers courier services of up to 5kg, delivered in two to three days, for R99.
Will other banks follow suit? And will they make the fees lower than FNB?